It has been a year since we shared some thoughts on emerging trends in the security industry, and 2022 was certainly a time for businesses to embrace a year less impacted by Covid-19 restrictions, whilst making the most of a buoyant economy. With workers returning to the office (albeit on a reduced basis in many cases), events kick-started and retail shops opening their doors to as many customers as they liked per square metre, it was a year where many businesses reinvented themselves and looked towards the future – with new ways to provide the best service in a safe and secure environment.
Whilst innovative approaches to customer service – such as the adoption of Security Concierge services, as we discussed last year – will no doubt continue to be evident across selected industries looking for a point of difference, 2023 looks like being the year where macro-economic factors will be playing the leading role.
Inflation and higher interest rates have historically correlated with an increase in crime rates. Accordingly, with Australians having been hit with multiple (and somewhat unexpected – depending who you ask!) rate rises in a short period of time, we could see an increase in crime – especially theft – this year. From a security perspective, this means proactive businesses and home owners will be ensuring their security solutions are not only functional, but optimal and ready to protect. A focus on regular servicing of security hardware such as cameras, alarm systems, CCTV and access control, along with implementation of new technology and assessment of current security strategy, would all be likely trends in the coming year.
Additionally, the same trend of an uptick in theft may also result in an increased demand for retail security, with store owners and managers focusing on retail loss prevention to protect their assets and ultimately their margins from an increase in shoplifting.
So whilst we say “cheers” to a year hopefully free of restrictions, it is also a time to assess your own security measures – across your home and business – to ensure they are ready for whatever 2023 brings.